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Press Releases

November 12, 2013
The Center for Responsible Lending applauds the Federal Trade Commission for its tough new guidance against deceptive practices by vocational schools. "The FTC's new guidance on vocational schools identifies some of the most deceptive practices by for-profit colleges," said Maura Dundon, Senior Policy Counsel at the Center for Responsible Lending. "For-profit colleges that mislead students about their expected salaries, job placement, or the quality of the education should take notice that they are violating the FTC Act. The guidance does not technically extend to all for-profit colleges...
September 5, 2013
CRL welcomes moves by the U.S. Department of Education ("Department") to ensure that career education programs provide a sound return on investment for both students and U.S. taxpayers. Students and displaced workers often look to career education programs to build the skills they need to gain employment in particular fields. Many of these programs are offered by for-profit colleges, although student tuitions are typically funded by federal financial aid. In 2011-12, the US government made approximately $28 billion in Title IV grants and loans to students attending for-profit colleges....
December 12, 2012
In the first report of its kind, the Center for Responsible Lending examines consumer lending markets across-the-board and finds that—despite major gains in regulatory reforms—predatory lending continues to undermine American households trying to rebuild their finances after the recession. View or download the report: The State of Lending in America and its Impact on U.S. Households (State of Lending) paints a picture of working families struggling to manage debt while coping with stagnant incomes and a substantial decrease in wealth. The...